The global LED flood light market reached a value of US$ 6.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.02 Billion by 2027, exhibiting a CAGR of 11.46% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
LED flood lights are a type of lighting fixtures used for illuminating large areas like stadiums, yards, stages, private gardens and home living spaces. These fixtures offer numerous advantages over other lighting sources, like fluorescent and CFL systems. They are environment-friendly in nature as they do not generate infrared or UV radiation and help in reducing the carbon footprint on account of their low electricity requirements. They also have a highly durable design owing to which they require minimum maintenance. At present, the demand for LED flood lights is rising as governments of various nations are supporting the usage of these fixtures as a step towards sustainable development.
In recent years, LED flood lights have been increasingly used for outdoor lighting in several commercial and industrial applications such as security perimeters, stadiums and warehouses. Besides this, the utilization of LED flood lights helps building owners and managers in saving operating and maintenance costs as these lighting solutions do not consume as much energy as traditional lighting technologies. Apart from this, these lights are also becoming popular across both the residential and commercial sectors as they help in reducing the overall ambient room temperature. Moreover, flood lights cater to the rising demand for green lighting technology as they have cool beam bulbs and offer optimum luminous efficacy. On account of these properties, the LED flood lights market is expected to attract numerous investments in the near future.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED flood light market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
- Retail & Hospitality
On the basis of the application, LED lighting is majorly used for retrofitting purposes wherein the inefficient lighting sources are replaced with LED lights in order to enhance optical performance and energy efficiency.
- United States
On the geographical front, China represents the largest market for LED lighting, holding the majority of the global market share. This can be attributed to increasing urbanization, implementation of local energy saving targets and introduction of financial subsidies to promote the usage of LED lights across the nation.
The competitive landscape of the LED lighting industry has also been analyzed with detailed information about the key players operating in the market across the globe.
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